Since the process of verifying users has begun, we have detected frauds who created multiple accounts then have been sending all the accumulated amounts to the exchanges and constantly selling to dump the price of the coin. These are the people that are not contributing to the development of our community.
Due to situations like this, we have started verifying our users to expose such personalities.
EDC Blockchain team has come up with a tremendous technical solution that carries safety, usability and will wipe off the fraudulent users.
So, starting from March 11, 2020, the EDC Blockchain team will implement a specially created exchange token of ERC20 standard.
This token will have the same name, EDC (ERC20). It will be created for trading on exchanges.
All the functionality of EDC will stay unchanged and it will be available for leasing and for the use between users of the community. You will be able to exchange current EDC coins for EDC (erc20) tokens and vice versa in the EDC Blockchain wallet!!
Introduction of EDC token ERC-20 standard in exchange trading offers the next advantages:
- Limiting the number of tokens on the market. Cheating coin balances will not be available for trading!
- Issue of a limited number of tokens. This will create an internal deficit.
- Easy to store on any wallets that support the ERC20 standard.
- Better exchange loyalty to the listing of tokens of this standard, which will make it possible to list on larger exchanges.
- With different EDC blockchain updates, there will be no reboot of exchange nodes, and trading will always be available continuously.
- High prevalence and decentralization of ERC20 standard
- After exchanging EDC coins for an EDC token, the coins will be burned. This will create a decrease in the number of coins in the domestic community market, which will also lead to a shortage of EDC coins.
Characteristics of EDC erc20 token:
- Total emission - 1 000 000 000 tokens
- The number of decimal places is 6.
The process of changing and exchanging coins for token:
- All trading of EDC coins on exchanges will be suspended 11.03.2020
- Coin exchange for a token in wallets https://wallet.blockchain.mn will start on March 12, 2020.
- The starting price for an EDC token will be $0.1. Accordingly, this rate will be the exchange of coins for a token. The value of the coin for exchange will be fixed and amounts to $ 0.005.
- After the exchange for a token, EDC coins will be burned.
The burning of the coin will take place as follows:
When the user changes the coin for the token in their wallet, 90% of the EDC coin volume will be burned, while the remaining 10% of the coins will be transferred to a special bonus account, where they will be distributed accordingly to the method described below.
When a token is exchanged back for a coin, the positive difference from the previous token exchange will be charged at 1%. The difference will be reset to zero for the next day.
Example: 1000 tokens were withdrawn from the wallet to the exchange (sold and then bought, or just bought there), after which the wallet was deposited with 1200 tokens, which were then exchanged for coins. The difference will be 200 tokens, for which the user will receive + 1% in coins.
On the next day, the exchange difference is updated and you can make additional exchanges and get 1% for the difference of the reverse exchange of a token for a coin.
The EDC coin retains all existing features, including the existing coin constructor. The development of various tools for use in business activities will also continue.
Warning! The EDC coin will be replaced with an EDC token (erc20) on all exchanges. Therefore, please, each user to withdraw their volume of coins from the wallets of the exchanges to your EDC wallets! EDC coins will not be available for trading on the exchanges after the procedure of exchanging coins for tokens is completed.
The EDC Blockchain team continues to build the most progressive tokenization platform for small and medium-sized businesses with open and fair competition policies. You get all the benefits of EDC Blockchain for business development, target audience expansion, loyalty campaigns, and stable bonuses at once! Plus, a new digital tool with unlimited growth potential through access to the largest international crypto exchanges and compatibility with most platforms and wallets, is available!
Join the EDC Blockchain and create new value in the digital world of the future with us!